Calamos Announces Upside Cap Ranges for Upcoming Structured Protection ETFs Providing Exposure to S&P 500 and Nasdaq-100 with 100% Downside Protection Over One Year
Calamos Investments has announced the estimated upside cap ranges for two new Structured Protection ETFs: CPST (S&P 500) and CPNS (Nasdaq-100). These ETFs offer 100% downside protection over a one-year outcome period, with attractive upside potential.
Key details:
- CPST: Estimated upside cap range of 7.39% - 8.57%
- CPNS: Estimated upside cap range of 7.82% - 9.18%
- Launch date: September 3, 2024
- Annual expense ratio: 0.69%
- Portfolio management: Co-CIO Eli Pars and the Alternatives Team
These ETFs are part of Calamos' expanding Structured Protection ETF series, offering monthly entry points to capital-protected growth strategies for major US equity benchmarks.
Calamos Investments ha annunciato le stime per i limiti di guadagno sui due nuovi ETF di Protezione Strutturata: CPST (S&P 500) e CPNS (Nasdaq-100). Questi ETF offrono una protezione totale dai ribassi per un periodo di riferimento di un anno, con un potenziale di guadagno interessante.
Dettagli chiave:
- CPST: Limite di guadagno stimato tra il 7,39% e l'8,57%
- CPNS: Limite di guadagno stimato tra il 7,82% e il 9,18%
- Data di lancio: 3 settembre 2024
- Rapporto annuale delle spese: 0,69%
- Gestione del portafoglio: Co-CIO Eli Pars e il Team delle Alternative
Questi ETF fanno parte della serie in espansione di ETF di Protezione Strutturata di Calamos, offrendo punti di ingresso mensili a strategie di crescita protette per i principali benchmark azionari statunitensi.
Calamos Investments ha anunciado los rangos estimados de límite de ganancias para dos nuevos ETF de Protección Estructurada: CPST (S&P 500) y CPNS (Nasdaq-100). Estos ETF ofrecen protección total a la baja durante un período de resultado de un año, con un atractivo potencial de ganancias.
Detalles clave:
- CPST: Rango estimado de límite de ganancias del 7,39% al 8,57%
- CPNS: Rango estimado de límite de ganancias del 7,82% al 9,18%
- Fecha de lanzamiento: 3 de septiembre de 2024
- Ratio anual de gastos: 0,69%
- Gestión de la cartera: Co-CIO Eli Pars y el equipo de Alternativas
Estos ETF son parte de la creciente serie de ETF de Protección Estructurada de Calamos, ofreciendo puntos de entrada mensuales a estrategias de crecimiento protegidas para los principales índices de renta variable de EE. UU.
칼라모스 투자회사(Calamos Investments)는 두 개의 새로운 구조적 보호 ETF인 CPST (S&P 500)와 CPNS (Nasdaq-100)의 예상 상승 한도를 발표했습니다. 이 ETF들은 1년 결과 기간 동안 100% 하락 보호를 제공하며, 매력적인 상승 잠재력을 갖추고 있습니다.
주요 세부 사항:
- CPST: 예상 상승 한도 범위 7.39% - 8.57%
- CPNS: 예상 상승 한도 범위 7.82% - 9.18%
- 출시일: 2024년 9월 3일
- 연간 비용 비율: 0.69%
- 포트폴리오 관리: 공동 CIO Eli Pars 및 대체 투자 팀
이 ETF들은 칼라모스의 확장되고 있는 구조적 보호 ETF 시리즈의 일환으로, 주요 미국 주식 벤치마크에 대한 자본 보호 성장 전략에 대한 월간 진입 기회를 제공합니다.
Calamos Investments a annoncé les limites de hausse estimées pour deux nouveaux ETF de Protection Structurée : CPST (S&P 500) et CPNS (Nasdaq-100). Ces ETF offrent une protection à la baisse de 100% sur une période de résultat d'un an, avec un potentiel de hausse attractif.
Détails clés :
- CPST : Plage de limite de hausse estimée de 7,39 % à 8,57 %
- CPNS : Plage de limite de hausse estimée de 7,82 % à 9,18 %
- Date de lancement : 3 septembre 2024
- Ratio annuel des dépenses : 0,69 %
- Gestion de portefeuille : Co-CIO Eli Pars et l'équipe Alternatives
Ces ETF font partie de la série d'ETF de Protection Structurée en expansion de Calamos, offrant des points d'entrée mensuels pour des stratégies de croissance protégées sur les principaux indices boursiers américains.
Calamos Investments hat die geschätzten Aufwärtsgrenzen für zwei neue strukturierte Schutz-ETFs bekannt gegeben: CPST (S&P 500) und CPNS (Nasdaq-100). Diese ETFs bieten 100% Schutz vor Rückgängen über einen Zeitraum von einem Jahr und attraktive Aufwärtspotentiale.
Wichtige Details:
- CPST: Geschätzte Aufwärtsgrenze von 7,39% - 8,57%
- CPNS: Geschätzte Aufwärtsgrenze von 7,82% - 9,18%
- Startdatum: 3. September 2024
- Jährliche Kostenquote: 0,69%
- Portfoliomanagement: Co-CIO Eli Pars und das Alternatives Team
Diese ETFs sind Teil der wachsenden Serie von strukturierten Schutz-ETFs von Calamos, die monatliche Einstiege in kapitalgeschützte Wachstumsstrategien für die wichtigsten US-Aktienbenchmarks anbieten.
- 100% downside protection for both ETFs over a one-year outcome period
- Attractive upside cap ranges: 7.39% - 8.57% for CPST and 7.82% - 9.18% for CPNS
- ETFs reset annually, offering new upside potential with refreshed protection
- Potential for significant tax alpha with long-term capital gains treatment
- Annual expense ratio of 0.69% for both ETFs
Insights
The launch of these Structured Protection ETFs by Calamos is a strategic move in the current market environment. With 100% downside protection and upside cap ranges of 7.39% - 8.57% for CPST and 7.82% - 9.18% for CPNS, these products offer a unique risk-reward profile. The 0.69% expense ratio is competitive for such structured products. These ETFs could attract risk-averse investors seeking exposure to major indices without full downside risk, especially given recent market volatility. However, the upside caps may limit returns in strongly bullish markets. The tax-efficient structure, with gains growing tax-deferred, adds another layer of appeal for long-term investors.
The timing of these ETF launches aligns with growing investor demand for downside protection amid economic uncertainties. The monthly entry points Calamos offers provide flexibility for investors to adjust their strategies. The focus on major indices (S&P 500 and Nasdaq-100) caters to broad market sentiment. The proven resilience mentioned by CEO John Koudounis during recent drawdowns could boost investor confidence. However, the success of these products will depend on market conditions over the next year. If markets remain volatile, these ETFs could see significant inflows. Conversely, in a strong bull market, investors might prefer uncapped exposure to these indices.
- The Calamos S&P 500® Structured Alt Protection ETF™ – September (CPST) has an estimated upside cap range of
7.39% -8.57% over the one-year outcome period following its launch on September 3, 2024. - The Calamos Nasdaq-100® Structured Alt Protection ETF™ – September (CPNS) has an estimated upside cap range of
7.82% -9.18% over the one-year outcome period following its launch on September 3, 2024.
METRO
"Throughout the recent drawdown, Calamos Structured Protection ETFs performed as designed– minimizing volatility and protecting investor capital," said John Koudounis, President and CEO of Calamos Investments. "We look forward to rolling out the next funds in the series as investor interest continues to rise, especially in light of our proven resilience."
Calamos' Structured Protection ETF series is the most comprehensive of its kind, offering financial advisors and investors entry points each month to capital-protected growth strategies to the leading US equity benchmarks over one-year outcome periods. The suite is the logical product line extension of an asset manager that has been utilizing its options investing expertise in engineering alternative investment strategies with a focus on risk management for nearly 50 years, now provided with the simplicity, transparency, and tax efficiency of an ETF.
Calamos S&P 500® Structured Alt Protection ETF™ – September (CPST) | |
Cap Range | Estimated |
Outcome Period | 1 Year: 9/03/2024 to 8/31/2025 |
Reference Asset | Price return of the SPDR® S&P 500® ETF Trust (SPY), based |
Structured Protection |
|
Annual Expense Ratio | 0.69 % |
Portfolio Management | Co-CIO Eli Pars and the Alternatives Team |
Benchmarks | S&P 500® Index, Price Return MerQube Capital Protected US Large Cap Index –September |
Tax Application | Gains in an ETF grow tax-deferred and will be taxed at long- |
Calamos Nasdaq-100® Structured Alt Protection ETF™ – September (CPNS) | |
Cap Range | Estimated |
Outcome Period | 1 Year: 9/03/2024 to 8/31/2025 |
Reference Asset | Price return of Invesco QQQ Trust, Series 1, based on the |
Structured Protection |
|
Annual Expense Ratio | 0.69 % |
Portfolio Management | Co-CIO Eli Pars and the Alternatives Team |
Benchmarks | Nasdaq-100® Index, Price Return MerQube Capital Protected US Large Cap Tech Index – |
Tax Application | Gains in an ETF grow tax-deferred and will be taxed at long- |
Structured Protection ETFs™ reset annually, offering investors a new upside cap with refreshed protection against negative returns of the benchmark over the subsequent 12-month period. If shares are held longer than one year, they can deliver significant tax alpha as potential gains will grow tax-deferred at long-term capital gains rates and can be held indefinitely.
Learn more about the full suite of Calamos Structured Protection ETFsTM.
About Calamos
Calamos Investments is a diversified global investment firm offering innovative investment strategies, including alternatives, multi-asset, convertible, fixed income, private credit, equity, and sustainable equity. With
The information in each fund's prospectus and statement of additional information) is not complete and may be changed. We may not sell the securities of any fund until such fund's registration statement filed with the Securities and Exchange Commission is effective. Each fund's prospectus and statement of additional information is not an offer to sell such fund's securities and is not soliciting an offer to buy such fund's securities in any state where the offer or sale is not permitted.
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Calamos Investments LLC, referred to herein Calamos is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP, and Calamos Financial Services LLC.
An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.
Investing involves risks. Loss of principal is possible. The Fund(s) face numerous market trading risks, including authorized participation concentration risk, cap change risk, capital protection risk, capped upside risk, cash holdings risk, clearing member default risk, correlation risk, derivatives risk, equity securities risk, investment timing risk, large-capitalization investing risk, liquidity risk, market maker risk, market risk, non-diversification risk, options risk, premium-discount risk, secondary market trading risk, sector risk, tax risk, trading issues risk, underlying ETF risk and valuation risk. For a detailed list of fund risks see the prospectus.
There are no assurances the Fund(s) will be successful in providing the sought-after protection. The outcomes that the Fund(s) seeks to provide may only be realized if you are holding shares on the first day of the outcome period and continue to hold them on the last day of the outcome period, approximately one year. There is no guarantee that the outcomes for an outcome period will be realized or that the Fund(s) will achieve its investment objective. If the outcome period has begun and the underlying ETF has increased in value, any appreciation of the Fund(s) by virtue of increases in the underlying ETF since the commencement of the outcome period will not be protected by the sought-after protection, and an investor could experience losses until the underlying ETF returns to the original price at the commencement of the outcome period. Fund shareholders are subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the fund(s) for the outcome period, before fees and expenses. If the outcome period has begun and the Fund(s) have increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one outcome period to the next. The Cap, and the Fund(s) position relative to it, should be considered before investing in the Fund(s). The Fund(s) website, www.calamos.com, provides important Fund information as well information relating to the potential outcomes of an investment in the Fund(s) on a daily basis.
The Fund(s) are designed to provide point-to-point exposure to the price return of the reference asset via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the reference asset during the interim period. Investors purchasing shares after an outcome period has begun may experience very different results than fund's investment objective. Initial outcome periods are approximately 1-year beginning on the fund's inception date. Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the fund was incepted. After the conclusion of an outcome period, another will begin.
FLEX Options Risk – The Fund(s) will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund(s) could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund(s) may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset. Shares are bought and sold at market price, not net asset value (NAV), and are not individually redeemable from the fund. NAV represents the value of each share's portion of the fund's underlying assets and cash at the end of the trading day. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where fund shares are listed.
Cap Rate – Maximum percentage return an investor can achieve from an investment in the Fund if held over the Outcome Period.
Cap Range – Cap ranges are based on the last 15 trading days prior to range announcement, based on market conditions during the sample period, and are subject to change. The actual cap rate may be different based on market events.
Protection Level – Amount of protection the Fund is designed to achieve over the Days Remaining.
Outcome Period – Number of days in the Outcome Period.
Nasdaq® and Nasdaq-100 are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by Calamos Advisors LLC. The Fund has not been passed on by the Corporations as to their legality or suitability. The Fund is not issued, endorsed, sold, or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the Fund(s).
The "S&P 500®" is a product of S&P Dow Jones Indices LLC or its affiliates ("SPDJI") and has been licensed for use by Calamos Advisors LLC ("CAL"). S&P® and S&P 500® are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). Calamos S&P 500 Structured Protection ETFs are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.
Calamos Financial Services LLC, Distributor
© 2024 Calamos Investments LLC. All Rights Reserved. Calamos® and Calamos Investments® are registered trademarks of Calamos Investments LLC.
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FAQ
What are the upside cap ranges for Calamos' new Structured Protection ETFs?
When will the new Calamos Structured Protection ETFs (CPST and CPNS) be launched?
What level of downside protection do the Calamos Structured Protection ETFs offer?
What is the annual expense ratio for Calamos' new Structured Protection ETFs?
